{"id":625565,"date":"2024-06-20T10:00:57","date_gmt":"2024-06-20T10:00:57","guid":{"rendered":"https:\/\/uniquehot.com\/?p=625565"},"modified":"2024-07-10T10:57:29","modified_gmt":"2024-07-10T10:57:29","slug":"double-whammy-for-ethereum-price-collapses-exchange-supply-dries-up","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/double-whammy-for-ethereum-price-collapses-exchange-supply-dries-up\/","title":{"rendered":"Double-Whammy For Ethereum: Price Collapses, Exchange Supply Dries Up"},"content":{"rendered":"<div class=\"flex flex-grow flex-col max-w-full\">\n<div class=\"min-h-[20px] text-message flex flex-col items-start whitespace-pre-wrap break-words [.text-message+&amp;]:mt-5 juice:w-full juice:items-end overflow-x-auto gap-2\" dir=\"auto\" data-message-author-role=\"assistant\" data-message-id=\"a6b45e8d-e2a6-4121-8712-dd7600672dbe\">\n<div class=\"flex w-full flex-col gap-1 juice:empty:hidden juice:first:pt-[3px]\">\n<div class=\"markdown prose w-full break-words dark:prose-invert dark\">\n<p><span id=\"input-sentence~0\">The Ethereum (ETH) ecosystem is being blown through by winds of transformation. The price has struggled to survive in the past 30 days, even if there are faint indicators of recovery following recent falls. A more fascinating trend has also surfaced: ETH mass migration from bitcoin exchanges.<\/span><span id=\"input-sentence~1\"> Declining trade supply and nett outflows define this shift, which has analysts buzzing with possible positive consequences.<\/span><\/p>\n<p>Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/bitcoin-takes-control-in-market-meltdown-dominance-climbs-to-9-week-peak\/\" target=\"_blank\" rel=\"noopener \">Bitcoin Takes Control In Market Meltdown, Dominance Climbs To 9-Week Peak<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<h2 data-sourcepos=\"5:1-5:55\"><strong>Dwindling Stockpiles: Exchanges Feeling The Squeeze<\/strong><\/h2>\n<p data-sourcepos=\"7:1-7:175\"><span id=\"input-sentence~1\">The lifeblood of the digital asset market for years has been bitcoin exchanges.<\/span><span id=\"input-sentence~2\"> With most of every given coin&#8217;s total quantity housed within their digital vaults, they offer the platform for purchasing, selling, and exchanging <a href=\"https:\/\/www.coingecko.com\/\" rel=\"nofollow\">cryptocurrencies<\/a>. Regarding<a href=\"https:\/\/coinmarketcap.com\/\" rel=\"nofollow\"> ETH<\/a>, though, there seems to be a clear change underneath.<br \/>\n<\/span><\/p>\n<p data-sourcepos=\"9:1-9:310\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-625568\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/A_53399f.png?resize=1024%2C579\" alt=\"\" width=\"1024\" height=\"579\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/A_53399f.png?w=1231 1231w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/A_53399f.png?w=460 460w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/A_53399f.png?w=768 768w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/A_53399f.png?w=860 860w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/A_53399f.png?w=750 750w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/A_53399f.png?w=1140 1140w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\"><\/p>\n<p data-sourcepos=\"11:1-11:423\"><span id=\"input-sentence~2\">A recent study of on-chain data indicates that ETH&#8217;s balance on exchanges has dropped to its lowest level in eight years\u2014just around 10.20%.<\/span><span id=\"input-sentence~3\"> This means that a substantial number of ETH holders are withdrawing their coins from exchanges, therefore removing them from the market for quick sale.<br \/>\n<\/span><\/p>\n<figure id=\"attachment_625571\" aria-describedby=\"caption-attachment-625571\" style=\"width: 1024px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-625571 size-full\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/A_8aa007.png?resize=1024%2C320\" alt=\"\" width=\"1024\" height=\"320\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/A_8aa007.png?w=1112 1112w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/A_8aa007.png?w=460 460w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/A_8aa007.png?w=768 768w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/A_8aa007.png?w=860 860w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/A_8aa007.png?w=750 750w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\"><figcaption id=\"caption-attachment-625571\" class=\"wp-caption-text\">Ethereum price down in the last month. Source: <a href=\"https:\/\/coinmarketcap.com\/currencies\/ethereum\/\" target=\"_blank\" rel=\"noopener nofollow\">CoinMarketCap<\/a><\/figcaption><\/figure>\n<p><span id=\"input-sentence~3\">The causes of this migration are yet subject for conjecture.<\/span><span id=\"input-sentence~4\"> Some analysts think it might be a calculated action in expectation of the forthcoming Ethereum Merge, a significant network update that will convert the blockchain from proof-of-work to a more energy-efficient proof-of-stake paradigm. This change could open staking chances for ETH holders, motivating them to hang onto their currencies for longer times.<\/span><span id=\"input-sentence~5\"><br \/>\n<\/span><\/p>\n<figure style=\"width: 1835px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full\" src=\"https:\/\/www.tradingview.com\/x\/bBw9s6S5\/\" width=\"1835\" height=\"883\"><figcaption class=\"wp-caption-text\">ETH is now trading at $3,579. Chart: <a href=\"https:\/\/www.tradingview.com\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView<\/a><\/figcaption><\/figure>\n<h2 data-sourcepos=\"13:1-13:57\"><strong>Outflows Dominate: A Sign Of Accumulation Or Caution?<\/strong><\/h2>\n<p data-sourcepos=\"15:1-15:487\"><span id=\"input-sentence~5\">Moreover supporting the &#8220;accumulation theory&#8221; is the predominance of nett outflows on exchanges lately. This statistic records ETH entering and leaving wallet differences. As observed right now, a negative netflow denotes that more ETH is leaving than entering.<\/span><span id=\"input-sentence~6\"> This implies that investors are not only selling their current ETH but also not adding fresh ETH to exchanges, maybe indicating a developing long-term optimism.<br \/>\n<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/whales-dump-over-1-billion-in-bitcoin-fire-sale-or-foreshadowing\/\" target=\"_blank\" rel=\"noopener \">Whales Dump Over $1 Billion In Bitcoin: Fire Sale Or Foreshadowing?<\/a><\/div>\n<p data-sourcepos=\"17:1-17:271\"><span id=\"input-sentence~6\">Some analysts warn against too hopeful readings, though.<\/span><span id=\"input-sentence~7\"> A more wary investor attitude in response to current market volatility could possibly be responsible for the fall in exchange supply. Some holders may be choosing to relocate their ETH to private wallets for security while the larger cryptocurrency market is still rebounding from a downturn, waiting for a better time to re-enter the market.<br \/>\n<\/span><\/p>\n<p data-sourcepos=\"23:1-23:451\"><em>Featured image from iStock, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Ethereum (ETH) ecosystem is being blown through by winds of transformation. The price has struggled to survive in the past 30 days, even if there are faint indicators of recovery following recent falls. A more fascinating trend has also surfaced: ETH mass migration from bitcoin exchanges. Declining trade supply and nett outflows define this shift, which has analysts buzzing with possible positive consequences. Related Reading: Bitcoin Takes Control In Market Meltdown, Dominance Climbs To 9-Week Peak Dwindling Stockpiles: Exchanges Feeling The Squeeze The lifeblood of the digital asset market for years has been bitcoin exchanges. With most of every given coin&#8217;s total quantity housed within their digital vaults, they offer the platform for purchasing, selling, and exchanging cryptocurrencies. Regarding ETH, though, there seems to be a clear change underneath. A recent study of on-chain data indicates that ETH&#8217;s balance on exchanges has dropped to its lowest level in eight years\u2014just around 10.20%. This means that a substantial number of ETH holders are withdrawing their coins from exchanges, therefore removing them from the market for quick sale. The causes of this migration are yet subject for conjecture. Some analysts think it might be a calculated action in expectation of the forthcoming Ethereum Merge, a significant network update that will convert the blockchain from proof-of-work to a more energy-efficient proof-of-stake paradigm. This change could open staking chances for ETH holders, motivating them to hang onto their currencies for longer times. Outflows Dominate: A Sign Of Accumulation Or Caution? Moreover supporting the &#8220;accumulation theory&#8221; is the predominance of nett outflows on exchanges lately. This statistic records ETH entering and leaving wallet differences. As observed right now, a negative netflow denotes that more ETH is leaving than entering. This implies that investors are not only selling their current ETH but also not adding fresh ETH to exchanges, maybe indicating a developing long-term optimism. Related Reading: Whales Dump Over $1 Billion In Bitcoin: Fire Sale Or Foreshadowing? Some analysts warn against too hopeful readings, though. A more wary investor attitude in response to current market volatility could possibly be responsible for the fall in exchange supply. Some holders may be choosing to relocate their ETH to private wallets for security while the larger cryptocurrency market is still rebounding from a downturn, waiting for a better time to re-enter the market. Featured image from iStock, chart from TradingView<\/p>\n","protected":false},"author":557,"featured_media":625576,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[142,6664,8323,4854,92623],"class_list":["post-625565","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoins","tag-crypto","tag-eth","tag-ether","tag-ethererum"],"acf":[],"yoast_head":"\n<title>Ethereum: Price Collapses, Exchange Supply Dries Up<\/title>\n<meta name=\"description\" content=\"The Ethereum (ETH) ecosystem is being blown through by winds of transformation. The price has struggled to survive in the past 30 days, even if there are\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/uniquehot.com\/news\/double-whammy-for-ethereum-price-collapses-exchange-supply-dries-up\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ethereum: Price Collapses, Exchange Supply Dries Up\" \/>\n<meta property=\"og:description\" content=\"The Ethereum (ETH) ecosystem is being blown through by winds of transformation. The price has struggled to survive in the past 30 days, even if there are\" \/>\n<meta property=\"og:url\" content=\"https:\/\/uniquehot.com\/news\/double-whammy-for-ethereum-price-collapses-exchange-supply-dries-up\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-20T10:00:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-07-10T10:57:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/a_0ead56.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2000\" \/>\n\t<meta property=\"og:image:height\" content=\"1309\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Christian Encila\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Christian Encila\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/uniquehot.com\/news\/double-whammy-for-ethereum-price-collapses-exchange-supply-dries-up\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/uniquehot.com\/news\/double-whammy-for-ethereum-price-collapses-exchange-supply-dries-up\/\"},\"author\":{\"name\":\"Christian Encila\",\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/person\/a2d6e9b600c0ed5252bbfc4170c3dd80\"},\"headline\":\"Double-Whammy For Ethereum: Price Collapses, Exchange Supply Dries Up\",\"datePublished\":\"2024-06-20T10:00:57+00:00\",\"dateModified\":\"2024-07-10T10:57:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/uniquehot.com\/news\/double-whammy-for-ethereum-price-collapses-exchange-supply-dries-up\/\"},\"wordCount\":431,\"publisher\":{\"@id\":\"https:\/\/uniquehot.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/uniquehot.com\/news\/double-whammy-for-ethereum-price-collapses-exchange-supply-dries-up\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/a_0ead56.jpg?fit=2000%2C1309\",\"keywords\":[\"altcoins\",\"crypto\",\"ETH\",\"Ether\",\"Ethererum\"],\"articleSection\":[\"Cryptocurrency Market News\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2024\",\"copyrightHolder\":{\"@id\":\"https:\/\/uniquehot.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/uniquehot.com\/news\/double-whammy-for-ethereum-price-collapses-exchange-supply-dries-up\/\",\"url\":\"https:\/\/uniquehot.com\/news\/double-whammy-for-ethereum-price-collapses-exchange-supply-dries-up\/\",\"name\":\"Ethereum: Price Collapses, Exchange Supply Dries Up\",\"isPartOf\":{\"@id\":\"https:\/\/uniquehot.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/uniquehot.com\/news\/double-whammy-for-ethereum-price-collapses-exchange-supply-dries-up\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/uniquehot.com\/news\/double-whammy-for-ethereum-price-collapses-exchange-supply-dries-up\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/a_0ead56.jpg?fit=2000%2C1309\",\"datePublished\":\"2024-06-20T10:00:57+00:00\",\"dateModified\":\"2024-07-10T10:57:29+00:00\",\"description\":\"The Ethereum (ETH) ecosystem is being blown through by winds of transformation. The price has struggled to survive in the past 30 days, even if there are\",\"breadcrumb\":{\"@id\":\"https:\/\/uniquehot.com\/news\/double-whammy-for-ethereum-price-collapses-exchange-supply-dries-up\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/uniquehot.com\/news\/double-whammy-for-ethereum-price-collapses-exchange-supply-dries-up\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/uniquehot.com\/news\/double-whammy-for-ethereum-price-collapses-exchange-supply-dries-up\/#primaryimage\",\"url\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/a_0ead56.jpg?fit=2000%2C1309\",\"contentUrl\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/a_0ead56.jpg?fit=2000%2C1309\",\"width\":2000,\"height\":1309,\"caption\":\"Ethereum\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/uniquehot.com\/news\/double-whammy-for-ethereum-price-collapses-exchange-supply-dries-up\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/uniquehot.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Double-Whammy For Ethereum: Price Collapses, Exchange Supply Dries Up\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/uniquehot.com\/#website\",\"url\":\"https:\/\/uniquehot.com\/\",\"name\":\"NewsBTC\",\"description\":\"Bitcoin &amp; Cryptocurrency News Today\",\"publisher\":{\"@id\":\"https:\/\/uniquehot.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/uniquehot.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/uniquehot.com\/#organization\",\"name\":\"NewsBTC\",\"url\":\"https:\/\/uniquehot.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"contentUrl\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"width\":157,\"height\":46,\"caption\":\"NewsBTC\"},\"image\":{\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/newsbtc\",\"https:\/\/x.com\/newsbtc\",\"https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/person\/a2d6e9b600c0ed5252bbfc4170c3dd80\",\"name\":\"Christian Encila\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/42cdb81dcbfceaa5f2e5c359239db36f?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/42cdb81dcbfceaa5f2e5c359239db36f?s=96&d=mm&r=g\",\"caption\":\"Christian Encila\"},\"description\":\"They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.\",\"sameAs\":[\"jomarjet01\"],\"url\":\"https:\/\/uniquehot.com\/author\/jomarjet01\/\"}]}<\/script>\n","yoast_head_json":{"title":"Ethereum: Price Collapses, Exchange Supply Dries Up","description":"The Ethereum (ETH) ecosystem is being blown through by winds of transformation. The price has struggled to survive in the past 30 days, even if there are","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/uniquehot.com\/news\/double-whammy-for-ethereum-price-collapses-exchange-supply-dries-up\/","og_locale":"en_US","og_type":"article","og_title":"Ethereum: Price Collapses, Exchange Supply Dries Up","og_description":"The Ethereum (ETH) ecosystem is being blown through by winds of transformation. The price has struggled to survive in the past 30 days, even if there are","og_url":"https:\/\/uniquehot.com\/news\/double-whammy-for-ethereum-price-collapses-exchange-supply-dries-up\/","og_site_name":"NewsBTC","article_publisher":"https:\/\/www.facebook.com\/newsbtc","article_published_time":"2024-06-20T10:00:57+00:00","article_modified_time":"2024-07-10T10:57:29+00:00","og_image":[{"width":2000,"height":1309,"url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/a_0ead56.jpg","type":"image\/jpeg"}],"author":"Christian Encila","twitter_card":"summary_large_image","twitter_creator":"@newsbtc","twitter_site":"@newsbtc","twitter_misc":{"Written by":"Christian Encila","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/uniquehot.com\/news\/double-whammy-for-ethereum-price-collapses-exchange-supply-dries-up\/#article","isPartOf":{"@id":"https:\/\/uniquehot.com\/news\/double-whammy-for-ethereum-price-collapses-exchange-supply-dries-up\/"},"author":{"name":"Christian Encila","@id":"https:\/\/uniquehot.com\/#\/schema\/person\/a2d6e9b600c0ed5252bbfc4170c3dd80"},"headline":"Double-Whammy For Ethereum: Price Collapses, Exchange Supply Dries Up","datePublished":"2024-06-20T10:00:57+00:00","dateModified":"2024-07-10T10:57:29+00:00","mainEntityOfPage":{"@id":"https:\/\/uniquehot.com\/news\/double-whammy-for-ethereum-price-collapses-exchange-supply-dries-up\/"},"wordCount":431,"publisher":{"@id":"https:\/\/uniquehot.com\/#organization"},"image":{"@id":"https:\/\/uniquehot.com\/news\/double-whammy-for-ethereum-price-collapses-exchange-supply-dries-up\/#primaryimage"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/a_0ead56.jpg?fit=2000%2C1309","keywords":["altcoins","crypto","ETH","Ether","Ethererum"],"articleSection":["Cryptocurrency Market News"],"inLanguage":"en-US","copyrightYear":"2024","copyrightHolder":{"@id":"https:\/\/uniquehot.com\/#organization"}},{"@type":"WebPage","@id":"https:\/\/uniquehot.com\/news\/double-whammy-for-ethereum-price-collapses-exchange-supply-dries-up\/","url":"https:\/\/uniquehot.com\/news\/double-whammy-for-ethereum-price-collapses-exchange-supply-dries-up\/","name":"Ethereum: Price Collapses, Exchange Supply Dries Up","isPartOf":{"@id":"https:\/\/uniquehot.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/uniquehot.com\/news\/double-whammy-for-ethereum-price-collapses-exchange-supply-dries-up\/#primaryimage"},"image":{"@id":"https:\/\/uniquehot.com\/news\/double-whammy-for-ethereum-price-collapses-exchange-supply-dries-up\/#primaryimage"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/a_0ead56.jpg?fit=2000%2C1309","datePublished":"2024-06-20T10:00:57+00:00","dateModified":"2024-07-10T10:57:29+00:00","description":"The Ethereum (ETH) ecosystem is being blown through by winds of transformation. The price has struggled to survive in the past 30 days, even if there are","breadcrumb":{"@id":"https:\/\/uniquehot.com\/news\/double-whammy-for-ethereum-price-collapses-exchange-supply-dries-up\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/uniquehot.com\/news\/double-whammy-for-ethereum-price-collapses-exchange-supply-dries-up\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/uniquehot.com\/news\/double-whammy-for-ethereum-price-collapses-exchange-supply-dries-up\/#primaryimage","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/a_0ead56.jpg?fit=2000%2C1309","contentUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/a_0ead56.jpg?fit=2000%2C1309","width":2000,"height":1309,"caption":"Ethereum"},{"@type":"BreadcrumbList","@id":"https:\/\/uniquehot.com\/news\/double-whammy-for-ethereum-price-collapses-exchange-supply-dries-up\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/uniquehot.com\/"},{"@type":"ListItem","position":2,"name":"Double-Whammy For Ethereum: Price Collapses, Exchange Supply Dries Up"}]},{"@type":"WebSite","@id":"https:\/\/uniquehot.com\/#website","url":"https:\/\/uniquehot.com\/","name":"NewsBTC","description":"Bitcoin &amp; Cryptocurrency News Today","publisher":{"@id":"https:\/\/uniquehot.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/uniquehot.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/uniquehot.com\/#organization","name":"NewsBTC","url":"https:\/\/uniquehot.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/uniquehot.com\/#\/schema\/logo\/image\/","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","contentUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","width":157,"height":46,"caption":"NewsBTC"},"image":{"@id":"https:\/\/uniquehot.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/newsbtc","https:\/\/x.com\/newsbtc","https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw"]},{"@type":"Person","@id":"https:\/\/uniquehot.com\/#\/schema\/person\/a2d6e9b600c0ed5252bbfc4170c3dd80","name":"Christian Encila","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/uniquehot.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/42cdb81dcbfceaa5f2e5c359239db36f?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/42cdb81dcbfceaa5f2e5c359239db36f?s=96&d=mm&r=g","caption":"Christian Encila"},"description":"They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/uniquehot.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Double-Whammy For Ethereum: Price Collapses, Exchange Supply Dries Up","url":"http:\/\/uniquehot.com\/news\/double-whammy-for-ethereum-price-collapses-exchange-supply-dries-up\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/double-whammy-for-ethereum-price-collapses-exchange-supply-dries-up\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/a_0ead56.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/a_0ead56.jpg?fit=2000%2C1309"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoins","crypto","eth","ether","ethererum"],"dateCreated":"2024-06-20T10:00:57Z","datePublished":"2024-06-20T10:00:57Z","dateModified":"2024-07-10T10:57:29Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Double-Whammy For Ethereum: Price Collapses, Exchange Supply Dries Up\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/double-whammy-for-ethereum-price-collapses-exchange-supply-dries-up\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/double-whammy-for-ethereum-price-collapses-exchange-supply-dries-up\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/06\\\/a_0ead56.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/06\\\/a_0ead56.jpg?fit=2000%2C1309\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoins\",\"crypto\",\"eth\",\"ether\",\"ethererum\"],\"dateCreated\":\"2024-06-20T10:00:57Z\",\"datePublished\":\"2024-06-20T10:00:57Z\",\"dateModified\":\"2024-07-10T10:57:29Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/a_0ead56.jpg?fit=2000%2C1309","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/625565","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=625565"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/625565\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/625576"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=625565"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=625565"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=625565"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}